Posted on 08/26/2011 9:55:24 AM PDT by edpc
Stocks rose in afternoon trading Friday after Federal Reserve Chairman Ben Bernanke said the U.S. is on track for long-term economic growth.
Bernanke left open the possibility of more action by the Fed if another recession looks likely. But he announced no new economic stimulus measures during his speech at a conference in Jackson Hole, Wyo.
(Excerpt) Read more at finance.yahoo.com ...
"People who understand the limits of monetary policy also understand that the economy has what it takes to grow," Kelly said.
The implementation of the things necessary to make this economy TRULY grow will not happen under this administration.
Amazing.
No doubt some are that gullible. I’m more inclined to think at least half of them are trading to get out while their stock is still worth something.
Agreed. If we get close to the election and it looks like Obama is destined to lose, buy stocks then. If he is going to win, sell. It is that black and white in my mind. (No racial implications intended).
Words fail me. But they apparently don’t fail Bernanke. Words, just words.
ditto.
Our economy's engine of growth, the employers, investors, and entrepreneurs are now public enemy number one. This fact is codified in tax law, and in the growing volume of regulations. Business people are maligned daily in the media, and in Hollywood productions. Ninety-nine percent of our college graduate commencement ceremonies include an exhortation to "public service", as if the private sector is somehow not an honorable destination for our young people's aspirations.
As long as the things above persist, capitalism is under seige, and there will be no growth.
Traders are hyper reactive. Look at the general trends here.
http://confoundedinterest.wordpress.com/
I never left the last one, so I'm not concerned about the next one. The illusory effect of my 401k improving does not offset the cost of living continuing to go up.
I never left the last one, so I'm not concerned about the next one. The illusory effect of my 401k improving does not offset the cost of living continuing to go up.
E.F. Bernanke speaks and economic growth is assured. Takes care of that problem. I suppose he'll fix the housing market next.
Excuse me, since when a net loss of around 100 points be considered a recovery? By my pre-2000 mathematics they are still down over all. So a potential loss is a recovery?
Yep, when I heard his comments I was glad I was not holding a hot cup of java. I would have choked and spilled it on myself.
I didn’t see the press conference itself. Did he offer any specifics as to what is or will be changing to support that opinion?
I think you actually know more than I do.
BS. No one considers Bernanke an authority on the economy. Stocks recover because the market rallies despite these morons.
Onr more example of Wall Street leadership being in The Usurping Marxist Onada’s back pocket.
2 1/2 years of the Onada regime being wrong about everything. With Bernake enthusiastically embracing and implementing the failed Marxist policies the stock market goes up on the face of his unsupported opinion.
They are our enemy—coillectively and individually.
He might as well predict that Vanderbilt will win the SEC in football.
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